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EQ has Hundreds of scores, so which one?

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Credit reporting and scoring is NOT done by CK.... The information in your credit report is at the credit bureaus. AND the credit score you see here on CK is ALSO done at the credit bureaus. CK only requests that the credit bureaus release the information via their website.

When a company asks the credit bureaus for your credit report, they also ask that the credit bureaus calculate your score with one of hundreds of different calculators available at the credit bureaus. (CK chooses the VantageScore 3.0 scoring model to be used as both Trans Union and Equifax.)

Each scoring model uses gives different values to the same details listed in your credit report, meaning that one may count all closed accounts, and another may only count closed accounts with a balance still left on them, and yet another may not count closed accounts at all. It really depends on which one the lender is paying for based on their business needs. So since you can’t have a credit score without a credit report, all calculations are done by the credit bureaus at the time of the request. The lender will say something like, "this is you score directly from Transunion". But what they don’t say is that ALL credit scores are from the credit bureaus, but the one they choose to use gave you that score. (Likely because they don’t really understand where the score actually come from themselves other than TU where their company pays for it to be calculated)

I hope this helps you understand a bit more than the lenders...... And as an example ....

FICO Versions used in auto lending applications

Experian

FICO Auto Score 8 FICO Auto Score 2

Equifax

FICO Auto Score 8

FICO Auto Score 5

TransUnion

FICO Auto Score 8

FICO Auto Score 4

FICO Versions used in credit card applications

Experian

FICO Bankcard Score 8

FICO Score 3

FICO Bankcard Score 2

Equifax

FICO Bankcard Score 8

FICO Bankcard Score 5

TransUnion

FICO Bankcard Score 8

FICO Bankcard Score 4

FICO Versions used in mortgage lending applications

Experian

FICO Score 2

Equifax

FICO Score 5

TransUnion

FICO Score 4

What you REALLY need to ask is which calculator is the creditor you are applying to actually uses. Some companies may not even use FICO brand and decide to go with VantageScore instead (like CK and 2000 other lenders).

And just like different restaurants sell different pop brands like Coke-a-Cola with variations of Diet, caffeine free, or New Coke, others may instead use Pepsi Band with the same variations but COMPLETELY different taste. So comparing Diet Coke and Pepsi-cola isn't a very effective comparison when saying which is the closest recipe for soda pop.

So watch the main details of your score and eventually they will all report positive information.

Your Credit Scores Should Be Free. And Now They Are.

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